PSDLAF

JUST IN: The Federal Reserve cut interest rates 0.25. The new benchmark interest rate is 4.5 to 4.75%. That's the lowest rate since early 2023. All committee members supported the move.

JUST IN: A strong jobs report. The US economy added 254,000 jobs in September. That’s way above expectations and a nice bounce from 159,000 in August. (Both July & August revised up) Unemployment rate: 4.1%. (Down from 4.2% in August) Wages: +4% in past year (vs. 2.5% inflation)

Federal Open Market Committee statement: federalreserve.gov/newsevents/pre… #FOMC

#FOMC updated quarterly summary of economic projections (SEP), raising median projection for unemployment at end of 2024 to 4.4% (from 4% in June), representing increase from current level of 4.2%; median forecast for inflation at end of 2024 declined to 2.3%; median projection for economic growth ticked down to 2%; don't see inflation returning to 2% target until 2026; increase in 
projection for long-run fed funds rate to 2.9% from 2.8%

RT @byHeatherLong: JUST IN: Federal Reserve cuts interest rates 50 bps, the first rate cut since 2020. The new interest rate target is 4.75…

JUST IN: A solid jobs report. The US added 142,000 jobs in August. That’s just below expectations of ~160k and a decent rebound from 89,000 jobs in July. The unemployment rate fell back to 4.2% (down from 4.3% in July) Wages: +3.8% in past year (well above 2.9% inflation) Bottom line: The job market has cooled off a lot and there a clear warning signs, but a “soft landing” is still very possible.

JUST IN: A really weak July jobs report. The US economy added only 114,000 jobs in July (well below forecasts) Unemployment rate hits 4.3% —> Highest since October 2021 and this triggers the Sahm Rule recession indicator. Wage growth: 3.6% (vs. 3% inflation)

Revision for U.S. GDP brought growth up to +1.4% (q/q ann.) in 1Q2024; prior read was +1.3%

JUST IN: The Federal Reserve predicts just ONE rate cut in 2024. 4 of the 19 Fed leaders predict NO CUTS 7 of the 19 Fed leaders forecast 1 cut 8 of the 19 forecast 2 cuts

A great celebration (kick off) with dearest of friends and family last night for @CEPJR! It was a pleasure to be a part of this fantastic retirement (almost) party! Congratulations Chuck!!!

Fed Chair Powell summary today: 1) A rate hike is very unlikely 2) His base case is to cut rates later this year, but it’s not a given 3) No sign of stagflation 4) 3% inflation is not acceptable #Fed #economy

JUST IN: The US economy grew 1.6% in Q1. That’s solid, but it’s a clear slowdown from 3.4% in Q4. Consumption moderated a little bit. Biz investment was still solid. ***But the biggest change was a slowdown in exports and government spending*** Q1 2024: 1.6% Q4 2023: 3.4% Q3 4.9% Q2 2.1% Q1 2.2% Q4 2022: 2.6% Q3: 2.7%

*FED SWAPS SHIFT FULL PRICING OF RATE CUT TO SEPTEMBER FROM JULY #jobs

JUST IN: Another blockbuster month for jobs. The US economy added 303,000 jobs in March — way above expectations. The big gains were healthcare (72k) and gov’t (71k). Unemployment rate: 3.8% (vs 3.9% in Feb) Wage growth: 4.1% in past year (well above 3.2% inflation)

Good news -- US Consumer sentiment has surged since the fall. Americans believe inflation is getting back under control and their personal finance are improving. "Sentiment is currently about 30% above November 2023 and about 6% below its historical average since 1978." (From University of Michigan Survey of Consumer Sentiment)

Federal Reserve officials maintained their outlook for three 25bps cuts this year but forecast fewer cuts than before in 2025 following uptick in inflation; decision was unanimous; fed funds rate remains in range of 5.25% to 5.5% (highest since 2001, for fifth straight meeting)

Another great ⁦conference! Thank you ⁦@pasbo_org⁩ for all that you do! linkedin.com/posts/pma-fina…

Strong hiring in February (+275,000 jobs added) especially in healthcare and gov't. Healthcare +67,000 Gov't +52,000 Restaurants +42,000 Social aid +24,000 Construction +23,000 Retail +19,000 Couriers +17,000 Professional Biz +9,000 Manufacturing -4,000 Temp help -15,000

Congratulations to Wanda Erb, Matt Przwara, and Bob Reger- Gary Reeser Award Recipients!!! @wandaerb @SDoL_CFO

@jeff_mummert @pasbo_org @brptlp24 @DianeJRichards1 announcing the candidates for election.

@jeff_mummert @pasbo_org @brptlp24 providing an update during the first General Session!

Proud to be a part of this amazing conference @pasbo_org